The Leder Group is the product of forty years of successful
real estate investing orchestrated by Dr. Samuel E. Leder. Dr.
Leder began his career as a veterinarian in 1962. By 1964,
Academy Animal Hospital, located on Federal Highway in Fort
Lauderdale, opened its doors as his first small animal
practice. December 1995 marked the sale of the last of Dr.
Leder's eleven veterinary practices. While his veterinary
license is still active, he no longer practices.

Shortly after the inception of Dr. Leder's first veterinary
practice, he began investing in commercial real estate. His
approach, at the time, had more to do with creating alternate
sources of cash flow to supplement what he could produce from
his veterinary practice than with trying to create a real
estate organization.

In August 1995, Dr. Leder's oldest son, Sean Leder,
returned to Florida from New York City to work with his father
on the family's real estate interests. Previously, Sean spent
two years working on Wall Street, the last of which was spent
underwriting equity and debt financings for Real Estate
Investment Trusts with Merrill Lynch in their Real Estate
Investment Banking Division. During that time, Sean had the
opportunity to work with some of the most professionally
managed and well-financed real estate organizations in the
country.

Sean Leder, as Chief Executive Officer of The Leder Group,
is responsible for the day-to-day management of the family's
and their partners' holdings. Additionally, he is responsible
for evaluating all new acquisition, development and management
opportunities.

The Leder Group Philosophy on investing in real estate is
based on the aggressive and proactive acquisition and
management of assets that are approached from a buy and hold
perspective. We are very selective based on the fact that we
are averse to selling assets once they have been acquired.

Dr. Leder's forty years of investing experience, coupled
with the youthful energy of his son, empowers The Leder Group
to maximize opportunities in the acquisition, development and
management of investment properties.